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Fly News Breaks for January 28, 2019
AVT, SNX
Jan 28, 2019 | 07:08 EDT
Citi analyst Tim Yang upgraded Synnex (SNX) to Buy from Neutral and raised his firm's price target for the shares to $120 from $88 after taking over coverage of Technology Distributors from Jim Suva. Synnex continues to increase its value-add services exposure, which should support sustainable margin expansion in the next two years, Yang tells investors in a research note. He finds the stock's valuation attractive and calls the company his top pick in the space. Yang is more negative on Neutral-rated Avnet (AVT) due to headwinds in the Semi space.
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